The Short Title of this Act is “The Southland Agricultural and Pastoral Association Reserve Act, 1881.”

The Trustees for the time being in whom the lands described in the Schedule hereto are vested under the provisions of “The Southland Agricultural and Pastoral Reserve Act, 1877,” (herein referred to as “the said Act,”) may sell and dispose of the said lands to the Southland Caledonian Society in accordance with the terms of the herein above-recited agreement, and may do all things necessary to give effect to any such sale.

Not less than two-thirds of the entire proceeds to arise from any such sale shall be applied by the said Trustees in the acquisition of other land for the said Association, and the remainder of such proceeds shall be applied in improving and rendering suitable to the purposes of the Association the land so to be acquired.

The aforesaid Trustees shall hold the lands so to be acquired for the use of the Southland Agricultural and Pastoral Association, and for the purposes for which such Association was formed.

Section five of the said Act is hereby repealed; but in other respects the said Act shall apply in all respects to the lands to be acquired by the aforesaid Association under the authority of this Act as it applies in respect to the lands described in the Schedule hereto.

On the completion of the sale authorized by this Act, the lands described in the Schedule to this Act shall vest in and be held by the Southland Caledonian Society, for the use of the said Society, and for the purposes for which such Society was formed.

The District Land Registrar of Southland shall, on the deposit with him of a copy of this Act, and on proof to his satisfaction of the completion of the aforesaid sale, cancel the certificate of title to the lands described in the Schedule, granted to the Southland Agricultural and Pastoral Association Reserve Trust, and shall grant a certificate of title thereto to the Southland Caledonian Society in its stead.